Canada’s B2Gold has initiated the arbitration proceedings against Mail in relation to the company’s Menankoto gold exploration per-mit.
“The arbitration has been commenced pursuant to the arbitration clause set out in Section 31 of the Menankoto mining convention … governed by the 2012 Malian Mining Code … on the basis that the Republic of Mali breached its obligations to Menankoto under the Convention and under the 2012 Mining Code,” B2Gold said in a statement.
“Based on the terms of the Convention, the arbitration will be conducted by the International Centre for Settlement of Investment Disputes in Paris, France,” according to the miner.
B2Gold said that its operations at the Fekola mine in Mali, which is situ-ated on a separate mining license some 20 km from the Menankoto per-mit, are projected to produce 530,000 to 560,000 oz of gold in 2021 and continue normally.